Meta, formerly Facebook has been cleared with conditions to buy customer service platform Kustomer, a deal monitored by many global watchdogs.
Meta, formerly Facebook has been cleared with conditions to buy customer service platform Kustomer.
The European Union regulators have given its nod after tough negotiations and assurances by Meta that it would give all other competitors “non-discriminatory accesses” to all its messaging platforms over the next decade.
“Our decision today will ensure that innovative rivals and new entrants in the customer relationship management software market can effectively compete,” EU Commission Vice President Margrethe Vestager, the 27-nation bloc’s top competition watchdog, said in a statement. “The commitments offered by Meta ensure that its rivals will continue to have free and comparable access to Meta’s important messaging channels.”
Kustomer provides CRM software that helps businesses to communicate with their customers via different channels. The conditional acquisition will help Meta scale up its messaging platforms.
This deal was closely followed by many as a buying spree by big companies has triggered concern that it is a strategy to shut down rivals even before they are big enough to become a threat.
Nevertheless, the EU has set up a trustee with “high reaching powers” that will ensure that Meta will keep up its promise. Meta has always maintained this deal as “pro-competitive”.
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Source of Article: Bloomberg